FRO – Acquisition of Six VLCCs Under Construction Frontline Ltd. (NYSE and OSE: FRO) (“Frontline” or the “Company”) today announces that it has entered into an agreement for the acquisition through resale of six latest generation ECO-type VLCC newbuilding contracts. The six VLCCs are currently under construction at the Hyundai Heavy Industries (“HHI”) shipyard in South Korea and are being acquired for an aggregate purchase price of $565.8 million, including an estimated $25.7 million in additions and upgrades to the standard specifications. The vessels are designed to operate on different fuels, including Biofuel, have the potential to be converted or retrofitted to consume fuel like LNG or Ammonia and consequently there is an ability to cut CO2 emissions to zero when technology, logistics and the regulatory framework allows for it. The newbuildings will also be fitted with Exhaust Gas Scrubber technology, high-end Anti Fouling systems, equipped with Digital Energy Performance solutions as well as compliant with specific Exxon Mobile lightering requirements to allow for maximum trading flexibility.